Traders, since it's Friday, the volatility will probably remain thin during the Sydney and Tokyo sessions. But, we can count on the European investors to move the market. So let's take a look at a few trade setups before the beginning the European session.
– Starting with the gold, as discussed in the previous update, I'm eyeing $1259/60 to remain in sell until $1252 with a stop above $1265.
– Nikkei – I have my buy limit at $19885 with a stop below $19825 and take profit $20035.
– SPX// S&P 500 seems to be a good buy above $2462 as it's likely to target $2471.
– EUR/USD is near the crucial trading level $1.1710. Below this, the pair is likely to remain in selling up to $1.1665
– CAC// FRA40 seems to be a nice buy at $5100 with a stop below $5075 & take profit at $5060.
All these setups are subject to change based on several economic events from the Eurozone, Canada & the United States. I highly recommend following strict money management strategies.
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